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Psychological tricks rich people use to look generous without spending more

95 pointsby Kortaggio12 months ago

10 comments

xg1512 months ago
&gt; <i>[1] The scarf&#x2F;coat example is from this LessWrong article, based on the original paper Christopher K. Hsee, “Less Is Better: When Low-Value Options Are Valued More Highly than High-Value Options”</i><p>Yep, somehow knew it had to be LessWrong the moment the post mentioned &quot;social value&quot;. That scarf&#x2F;coat experiment and really the entire concept sounds like exactly the things that some EA folks would get hyped up about.
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Quinzel12 months ago
I am not “rich”, but a psychological trick I use when I’m out with one or two friends is that I always make sure I buy the first drink, or first entree etc. Basically I just make sure that I provide the first “gift”. The reason being that I know that I will most likely get back in return favours that far exceed what I initially fronted up with.<p>The most recent example of me doing this was Friday night. I paid $6 for my friends drink, and then in return, he bought me dinner, and then also paid for me to go bowling. So in return for my $6 spent, I got about $50 of value in return.<p>I been doing this since I was a kid. I grew up in poverty, and I think it’s like a behavioural adaptation I acquired because it was a way for me to get things I needed. I knew as a kid, that adults valued generosity. I didn’t have a lot to give because I was poor, so what I would do instead was craft handmade gifts, pick flowers for people, write nicely worded letters to people, or I would do chores for random people without being asked, and often I found people would return the favour by providing something in return.<p>It wasn’t until I studied social psychology as an elective in my first degree that I realised I was using the rule of reciprocity to gain an advantage. Since realising the social convention behind it, I still do it to my advantage, but I would say now days, I do do it with more intention - therefore there are times where I do not exploit this human vulnerability because I know I am actually socially more advantaged than the other person.<p>When I am in social situations where I know someone is far wealthier than I am, instead of offering them tangible gifts like buying a drink, I actually prefer to stroke their ego’s, and make them feel interesting and important, and I also am happy to allow them to feel socially superior to me. I don’t care if they view me as lower in the pecking order, because as long as they think that I admire them, they’re more likely to provide gifts, like buying me drinks etc… again, it’s an adaptation of the reciprocity thing, and something I learned to do as a kid.
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pavel_lishin12 months ago
This seems to be more about how to spend less while shopping, rather than psychological tricks or generosity.
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osigurdson12 months ago
Author assumes the only reason people buy a truck is for &quot;signalling&quot;.
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jacknews12 months ago
The title seems misleading, it should just be &#x27;better ways to buy things&#x2F;spend your money&#x27; or similar.<p>I do like the ethos that you should carefully consider&#x2F;choose the things you own, and then look after them, repair them etc. They then carry the story of their ownership, and become much more valuable to you (witness the &#x27;I repaired my broken mug&#x27; story on HN this last week). Our current semi-disposable fast-fashion money-go-round mode of consumption needs to stop.
alistairSH12 months ago
<i>I get more social value from the scarf by being seen as more generous, without actually spending more money, so I can pretending to be rich while being a cheap asshole!</i><p>Um, not necessarily. This assumes the receiver has no concept of the giver’s budget, which is rarely true. And also assumes the receiver cares about the cash value of the gift receives, instead of either the motivation for giving or the utility of the item.<p>This whole post stuck me as borderline disordered. Is this really the way rich people think? Sounds miserable to go through life being so calculating about everything. I’m “rich” by many measures (but nowhere near senior FAANG engineer rich) and I’d much rather just enjoy the life I’ve fallen into.
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Havoc12 months ago
&gt; Smart fridges, smart lightbulbs, and smart toothbrushes are also about precision: you gotta be a smart human to operate anything more complex than a can opener these days.<p>As someone who tinkered unsuccessfully with zigbee stuff this weekend i feel attacked
jc612 months ago
This stuff their assistants do for them. To understand how they use signalling be aware of The Theory of the Leisure Class.
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credit_guy12 months ago
&gt; A brand is totally dematerialized—Harvard is not the buildings and libraries—every school has those.<p>Yeah, no. Harvard has a $50 billion endowment, other schools don’t.
deadbabe12 months ago
A neat trick is to “pledge” to make some large donation then never really get around to it.